Business1 hour ago
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India's Forex Swap Facility Attracts $127 Billion from NRIs
India's forex swap facility has attracted a remarkable $127 billion from NRIs, significantly surpassing expectations. Launched to bolster India's dollar reserves, this initiative has seen inflows five times larger than a similar scheme in 2013. The Reserve Bank's strategic move aims to stabilize the economy and enhance foreign currency liquidity, showcasing the confidence of non-resident Indians in India's financial stability.
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"When NRIs invest big, it's a win-win for everyone!"
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File ID: #390679Original Source: NDTV ↗
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